Question 1

What credit score do I need for a conventional loan in Garden Grove?

Accepted Answer

Most lenders require 620 to qualify. You need 740 or higher to access the best rate tiers.

Question 2

Can I buy a condo in Garden Grove with a conventional loan?

Accepted Answer

Yes, but the condo project must be warrantable. Not every complex in Garden Grove meets Fannie Mae's approval standards.

Question 3

When does PMI go away on a conventional loan?

Accepted Answer

PMI cancels once you reach 20% equity. You can request removal — lenders don't always do it automatically.

Question 4

How does the Orange County conforming loan limit affect my purchase?

Accepted Answer

OC's higher conforming limit lets more buyers use conventional instead of jumbo. Jumbo requires stricter qualification.

Question 5

What's the difference between a conforming and a conventional loan?

Accepted Answer

All conforming loans are conventional, but not all conventional loans are conforming. Jumbo is conventional but not conforming.

Conventional Loans in Garden Grove, CA